Dylan invested $47,000 in an account paying an interest rate of 4% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $79,200?

Q: A man needed P250, 000 at the end of 3 years, how much money must he deposit quarterly in an…

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Q: Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel…

A: for both Jackson and Angel , P is $81,000. now Time is 16 years. for Jackson Rate, r is 6.5% which…

Q: Lincoln invested $930 in an account paying an interest rate of 5.6% compounded daily. Assuming no…

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Q: An amount of $23,000 is borrowed for 14 years at 6.75% Interest, compounded annually. If the loan is…

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Q: Regina wants to have$280,000 in 20 years to buy a vacation home. To reach this amount, how much…

A: Consider the given information. The total amount after 20 years is $280,000. The total number of…

Q: Shawn made equal deposits at the beginning of every 3 months into an RRSP. At the end of 10 years,…

A: Let quarterly deposits be x  Interest rate = 2.2512%=0.001875  Time = 10 years Period n = 10 x 12 =…

Q: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

Q: A man deposits $ 36,200 into a bank, which pays 12% interest that is compounded quarterly. What will…

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Q: A newborn child receives a $5,000 gift toward a college education from her grandparents. How much…

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Q: Edmond has $6,915 in a savings account that earns 8% interest, compounded annually. To the nearest…

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Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

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Q: At age twenty six , Dick shoemaker desposited 2,000 into an IRA , where it earns 3% compounded…

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Q: · A local car wash charges $3 per wash, or one can pay $12.98 for 5 washes, payable in advance with…

A: 5) A local car wash charges $3 per wash. One can pay $12.98 for 5 washes which are payable in…

Q: Sam deposits $900 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: Given data:   The given amount Sam deposits are P=$900. The semiannual interest rate is r=7%=0.07.…

Q: Springfield Florist plans to replace its delivery vehicle in three years. If they set aside $16,000…

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Q: If you invested $10,000 at 9% interest, compounded quarterly, then how much would this investment be…

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Q: Jeremiah invested $70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming…

A: A=$99000  P=$ 70000 r=6.8%=0.068 n=365 ( compounded daily)

Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

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Q: Anthony is going to invest in an account paying an interest rate of 4.6% compounded monthly. How…

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Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

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Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=300 r=9%=0.09 t=4 years…

Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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Q: If Juanita invests $1500 in a retire-ment account that earns 8% compounded annually, how long will…

A: Given:Juanita invests $1500 in a retirement account the earns 8% compounded annually, and the amount…

Q: If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

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Q: After how many months will the account be worth $60,000

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Q: If Gabriel wants to accumulate $ 20,000 in 6 years to buy a car, how much would he need to invest…

A: The compound interest formula is A = P1 + rnnt In the formula, A = Accrued amount (principal +…

Q: Damian invested $880 in an account paying an interest rate of 5.2% compounded annually. Assuming no…

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Q: Claire invested $2,400 in an account paying an interest rate of 3.5% compounded monthly. Assuming no…

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Q: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

Q: Mr. Gordon plans to invest $300 at the end of each month in an account that pays 6%, compounded…

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Q: Madison is going to invest in an account paying an interest rate of 5.1% compounded quarterly. How…

A: Let the amount invested in the account be P Final value of amount in the account(A) is $310 Number…

Q: Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan…

A: Use the formula A=P1+rnnt. Where P is the principle amount, r is the rate of interest, n is number…

Q: An investment fund pays 3.25% per year, compounded monthly, on all money invested. How much interest…

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Q: Inga Moffitt invests a bonus of $9000 at 6% annual interest compounded semiannually for4 years. How…

A: P=$9000,  r=6%=0.06,  t=4  &  n=2 Now total amount earned is,…

Q: Hamad needs $6500 in 3 years for his first-year university program. He is planning to deposit a…

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Q: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

Q: In how many years will an investment of P2000 double in amount if the interest rate is 14.35%…

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Q: Sarah invested $3,800 in an account paying an interest rate of 3.6% compounded daily. Assuming no…

A: Given:  Sarah invested $3800 in an account paying an interest rate of 3.6% compounded daily.  To…

Q: How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

A: Follow the procedure given below.

Q: Farid placed RM5,000 in a bank account for six years. The bank offered an interest rate of 6%…

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Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: THE COMPOUND INTEREST FORMULA Compound interest can be calculated using the formula…

Q: The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal in…

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Q: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest,…

A: We will use the compound interest formula to find the amount after 17 years

Q: When he was 12, Brian put $250 into a savings account with a 2.5% annual interest rate. Now that he…

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Q: A couple needs $23,335.13 as a down payment for a home. If they invested the $7,000.00 they have at…

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Q: You can afford monthly deposits of $260 into an account that pays 3.6% compounded monthly. How long…

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